Which of the Following Statements Is True of Utility

question 49

Multiple Choice

Which of the following statements is true of utility?

• A)It is possible to precisely measure the utility an individual receives from consuming a particular good or service.
• B)It is always possible to determine whether Darlene or Julie gets more utility from consuming two units of the same good.
• C)The utility of goods can be measured, while that of services cannot.
• D)Utility is a subjective measure of satisfaction an individual receives from consuming a good or service.
• E)The concept of utility is useful only if there is no scarcity.

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Definitions:

Ratify the Constitution

The process by which the formal consent is given, making the Constitution officially valid.

Subject of Slavery

The condition or institution wherein individuals are owned by others, forced to work without pay, and deprived of freedom and rights.

Idea of Republicanism

A political ideology centered on citizenship in a state organized as a republic, emphasizing liberty, democracy, and civic virtue.

Articles of Confederation

The original constitution of the 13 American states, adopted in 1781, which was eventually replaced by the U.S. Constitution in 1789.